SYMC runs into sellers again around 22.79


Symantec Corp. (SYMC) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
SYMC runs into sellers again around 22.79
SYMC still stuck within tight trading range
SYMC closes within previous day's range
SYMC ends the day indecisive
TQ Sentiment
Report Sentiment: 25% Bearish
Technical Forecast:
Overview

SYMC ended Thursday at 22.32 losing $0.03 (-0.13%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for SYMC
Volatility

Thursday's trading range was $0.63 (2.83%), that's slightly below last trading month's daily average range of $0.72. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 18.85 and 22.79 which it has been in now for the last trading week.

Support/Resistance

After having been unable to move above 22.68 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 22.79.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Symantec Corp.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
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